Updated Dec 12, 2024
Hines Acquires Industrial Property At 1220 Us Route 301 In Tampa For $46M
1220 Us Route 301
$46,000,000
$35/SF
Building Size
1,300,000 SF
Asset Type
Industrial
Closing
Oct 2, 2023
About this deal
AI
A 390,711 square foot industrial property located at 1220 Us Route 301 in Tampa has been sold for $46,000,000. The property was purchased by Hines from High Street Logistics Properties. The sale price equates to a price per square foot of $118.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $46,000,000
- SF: 390,711
- PPSF: $118
- Address: 1220 Us Route 301, Tampa
The transaction was facilitated by the brokers Mike Davis, Rick Brugge, Rick Colon, Chloe Strada, and Dominic Montazemi of Cushman & Wakefield.
Players
Tampa Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93